Las Victorias Group
Because of her outstanding loan history, Bertha was chosen to participate in the advanced technical training program of Friendship Bridge. She has learned a great deal about making delicious jams, jellies, pies and cakes for her popular confectioner’s shop. Berta also continues to make typical Guatemalan food to sell. She is requesting a new loan that she will use to purchase flour and other ingredients for her cakes; fruit for her jams; and corn, beans, sugar and spices for her traditional Guatemalan recipes. Bertha is highly motivated to succeed and see her four children complete their education.
Understanding how to manage loans is essential to the success of Berta and the ladies in the “Las Victorias” Trust Bank. Each month, they acquire new tools and knowledge about effective business practices (customer service, pricing, marketing, budgeting, accounting) as well as ways to improve their standard of living (health, hygiene, nutrition). The effective combination of education and loans is labeled “Microcredit Plus” by Friendship Bridge. The ultimate goal is for women to empower themselves and eliminate poverty.
Bertha and the victorious ladies in the Trust Bank are most grateful to be realizing their dreams, empowering themselves as well as their families and eliminating poverty. Kiva investors are valuable partners in this effort. Thank you.
About Friendship BridgeThis loan is administered by Friendship Bridge (FB), a nonprofit, nongovernmental organization that empowers thousands of impoverished Guatemalan women through its Microcredit Plus program. The program combines small loans averaging US$350 for four-to-twelve month loan terms with non-formal, participatory education.
As FB clients, women start, expand, or diversify their businesses and learn practical lessons on topics including business, health, and self-esteem. FB’s clients borrow as a group, forming Trust Banks (groups of 7-25 women who serve as co-guarantors of the loan and act as a self-regulating support network).
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid